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Dec 6, 2013 6:00am EST
international correspondent michelle caruso cabrera. good morning, michelle. >> good morning. clearly, nelson mandela's greatest legacy is his ability to bring the people of you south africa together and overcome racial divides. but at cnbc, we're aware that economic freedom is important to democratic freedom, as well. you saw the picture of the emergence from prison in 1990. at that point, he is a marxist, he was to nationalize the mines. by 1994, he's a completely different person. he's embraced things like privatization, a good monetary policy to control inflation. he's embracing the controlling of government expenditures, things that the imf today would say, wow, great job. in fact, if you read some liberal leftist logs, many of them are extremely critical of nelson mandela because he tried to out imf the imf. so a pragmatist is a good description of his economic legacy and economic growth improved under mandela's rule. it's still tremendous inequality in south africa, something they haven't completely overcome at this point. certainly he took major steps, not just political we bub econom
Dec 3, 2013 6:00am EST
to "squawk box." nine months later, cyprus's ded debt has been upgraded, not downgraded. michelle caruso cabrera sat down with the finance minister to determine how they managed that. >> you remember the scene, it was absolute chaos, the banks were shut down for two weeks, they were begging for billions from their european partners. people wondered if once again we were going to see the european financial system come apart. here we are, s&p upgraded cyprus last week. it's extraordinary. it took nine months for cyprus to get upgraded. it took four years for greece to get upgraded. this is harris georgeioti. we spent a lot of time talking about what happened and why it's so different. he said cyprus took really hard decisions early on. they cut spending immediately and early and budget cuts came at a quicker pace. he didn't compare that to greece. i'm saying compared to greece because i that you tell saw greece first hand. they're still fighting some reforms he don't want to do in greece. bottom line, he says he thinks the worst is behind cyprus. >> hopefully we have come a long way since
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